Mercy Baron 7:30 p.m., May 27
AT&T Talking with Leap, Says NY Times
AT&T, the second largest telephone carrier, seemingly thwarted in its attempt to buy T-Mobile, the fourth largest, "has been secretly working on an audacious 11th-hour deal" with San Diego's Leap Wireless, according to the New York Times.
Leap would sell AT&T a big piece of Leap's T-Mobile customer accounts and some of its wireless spectrum, says the Times. The Justice Department opposes AT&T's attempted merger with T-Mobile and AT&T announced Thanksgiving that it plans to take a $4 billion charge against earnings to account for the deal's fat breakup fee, "perhaps the biggest fee ever paid for a failed transaction," says the Times. Leap stock is up 1.36% to $7.81 this morning (Nov. 29).
More like this:
- Leap Wireless shares zoom on AT&T purchase agreement — July 12, 2013
- Leap Wireless Continues Growth Despite Aborted T-Mobile Deal — Jan. 6, 2012
- Will Leap Leap into Arms of Rejected Suitor? — Feb. 2, 2010
- The Game Was Rigged — Nov. 24, 2004
- Phone in a Box — Nov. 11, 1999